International travel has been made easier by the steady growth of affordable technology, according to a new report
Aug 5, 2024
India’s outbound tourism market is forecast to grow from an estimated $18.8 billion in 2024 to over $55.3 billion by 2034, representing a compound annual growth rate (CAGR) of 11.4%.
Key takeaways
- The FICCI-Nangia Knowledge Paper also highlighted that India’s online travel market, driven by sales through digital platforms, is expected to grow at a CAGR of 10.5% from 2024 to 2029, from $17.24 billion to $28.40 billion;
- Emerging markets and opportunities for outbound travel are identified in several Southeast Asian, Middle Eastern, African, and Eastern European countries;
- Traveler preferences are becoming increasingly diverse, with a growing demand for personalized travel experiences. Factors such as demographic growth, government support, improved connectivity and the expansion of niche segments are fueling India’s outbound travel boom.
Get the full story at The Economic Times
